Tianan Insurance (天安保险股份有限公司) is China's fifth[ citation needed ] largest nonlife insurer. The company was established in 1994. In 2005, Japan's Tokio Marine & Nichido Fire Insurance Co., Ltd. purchased a 24.9% stake in the company. In July 2020, the Chinese government announced that it would take over the company.
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
The Ministry of Finance of the People's Republic of China is the cabinet-level executive department of the State Council which administers macroeconomic policies and the annual budget. It also handles fiscal policy, economic regulations and government expenditure for the state.
Prudential plc is a British multinational life insurance and financial services company headquartered in London, United Kingdom. It was founded in London in May 1848 to provide loans to professional and working people.
Sun Life Financial, Inc. is a Canadian financial services company; it is primarily known as a life insurance company. It is one of the largest life insurance companies in the world; it is also one of the oldest, with a history spanning back to 1865.
Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries mainly deal with insurance, banking, and financial services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well".
The People's Insurance Company (Group) of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder.
Genworth Financial is an S&P 400 insurance company. The firm was founded as The Life Insurance Company of Virginia in 1871. In 1986, Life of Virginia was acquired by Combined Insurance, which became Aon plc in 1987. In 1996, Life of Virginia was sold to GE Capital. In May 2004, Genworth Financial was formed out of various insurance businesses of General Electric in the largest IPO of that year. Genworth Financial is incorporated in Virginia.
China Life Insurance Company Limited is a Beijing-based China-incorporated company that provides life insurance and annuity products. China Life is ranked No. 94 on Fortune 2015 Global 500 Company list. China Life, which is 70% state-owned, is the biggest life insurer in China, but is coming off a few rocky years. China's insurance market attracted dozens of new competitors after the Chinese government liberalized it, and China Life's market share has fallen by almost half since 2007, from 50% to around 26%, according to Morningstar. The company is completing a major restructuring, and the government assigned it a new CEO in 2014. A new sales push early this year led to a big bump in net income in the first quarter of 2015. China Life is also ranked on Fortune China: 2015 Top 500 Chinese Enterprises at No.13.
In China, most hospitals are run by the government. Physicians were previously quasi-government employees and with little freedom in the choice of the hospital to work with. In addition, decades of planned economic policy discouraged physicians from opening their own clinics, and the practice of medicine was generally non-private.
Travel insurance is an insurance product for covering unforeseen losses incurred while travelling, either internationally or domestically. Basic policies generally only cover emergency medical expenses while overseas, while comprehensive policies typically include coverage for trip cancellation, lost luggage, flight delays, public liability, and other expenses.
Euler Hermes is a credit insurance company that offers a wide range of bonding, guarantees and collections services for the management of business-to-business trade receivables.
Fosun International Limited is a Chinese conglomerate and investment company. Founded in 1992 by Guo Guangchang and four others, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2004. Its Co-CEOs are Xu Xiaoliang and Chen Quiyu. Wang Qunbin joined Guo Guangchang as Co-Chairman in early 2020. The company is located in 16 countries and is one of the largest privately owned conglomerates in China. It was ranked 371st on the Forbes Global 2000 ranking in 2020.
Tencent Holdings Ltd. is a Chinese multinational conglomerate holding company founded in 1998, whose subsidiaries specialise in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally. Its twin-skyscrapers headquarters Tencent Seafront Towers are based in Nanshan District, Shenzhen.
China Taiping Insurance Holdings Company Limited (CTIH) formerly China Insurance International Holdings Company Limited (CIIH), is a Chinese insurance conglomerate. The company has strong Chinese Central Government background despite incorporated in Hong Kong. It is considered as a red chip company.
Future Group is an Indian conglomerate company founded by Kishore Biyani, headquartered in Mumbai, Maharashtra, India. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, lifestyle stores like Brand Factory, Central, etc. The group also has a notable presence in integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited, two operating companies of Future Group, are among the top retail companies listed in BSE with respect to assets, and in NSE with respect to market capitalisation.
Bupa is a British international healthcare provisioning and multi-insurance group, with its origins and headquarters in the United Kingdom, but now serving 32 million customers in 190 countries. It is a private healthcare company limited by guarantee, unlike the UK's National Health Service (NHS), which is a tax-funded healthcare system. While initially growing organically through green-field expansions, it has recently tended to function akin to a Private Equity firm, with its corporate strategy heavily influenced by M&A activity in order to consolidate itself as a market leader in healthcare provisioning and multi-insurance. It is consistently ranked among the best places to work, having placed 5th in the 2019 edition of LinkedIn's Top Companies in the UK.
Insurance in Pakistan is regulated under the Insurance Ordinance, 2000. In the past few years, it has transformed into a developing and fast growing market that is generally divided into three components: life insurance, general insurance and health insurance. The Government of Pakistan established the Department of Insurance in April 1948 as a department of the Ministry of Commerce; the aim of this department is to take care of affairs related to the insurance industry. Out of the 54% that Pakistan's service sector contributes to the national GDP, insurance, along with transport, storage, communications and finance occupy 24% of the sector.
Anbang Insurance Group is a Chinese holding company whose subsidiaries mainly deal with insurance, banking, and financial services based in Beijing. As of February 2017, the company had assets worth more than CN¥1.9 trillion. The Financial Times has described Anbang as "one of China’s most politically connected companies."
Huaxia Life Insurance Co., Ltd. known also as Hua Insurance in English, is a Chinese insurance company based in Tianjin. In July 2020, the Chinese government announced that it would take over the company.